Bokf Na Acquires 4,396 Shares of Shutterstock, Inc. (NYSE:SSTK)

Bokf Na lifted its stake in Shutterstock, Inc. (NYSE:SSTK) by 142.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,476 shares of the business services provider’s stock after buying an additional 4,396 shares during the period. Bokf Na’s holdings in Shutterstock were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SSTK. Allspring Global Investments Holdings LLC increased its holdings in Shutterstock by 31,733.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 955 shares of the business services provider’s stock valued at $37,000 after buying an additional 952 shares during the period. 1620 Investment Advisors Inc. bought a new position in Shutterstock in the second quarter valued at approximately $41,000. Truvestments Capital LLC bought a new position in Shutterstock in the first quarter valued at approximately $42,000. Nisa Investment Advisors LLC raised its position in Shutterstock by 69.6% during the second quarter. Nisa Investment Advisors LLC now owns 2,042 shares of the business services provider’s stock valued at $79,000 after purchasing an additional 838 shares in the last quarter. Finally, Headlands Technologies LLC lifted its stake in Shutterstock by 1,339.2% during the second quarter. Headlands Technologies LLC now owns 3,339 shares of the business services provider’s stock worth $129,000 after purchasing an additional 3,107 shares during the last quarter. Institutional investors and hedge funds own 82.79% of the company’s stock.

Shutterstock Stock Up 4.2 %

NYSE SSTK opened at $35.13 on Wednesday. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 13.62 and a beta of 1.09. Shutterstock, Inc. has a twelve month low of $32.38 and a twelve month high of $54.40. The business’s fifty day moving average is $37.24 and its 200 day moving average is $40.27.

Shutterstock (NYSE:SSTK) last announced its quarterly earnings results on Tuesday, August 6th. The business services provider reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.01). Shutterstock had a net margin of 5.33% and a return on equity of 20.45%. The firm had revenue of $220.05 million for the quarter, compared to analyst estimates of $213.44 million. During the same period in the previous year, the business posted $0.76 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, research analysts anticipate that Shutterstock, Inc. will post 3.22 earnings per share for the current fiscal year.

Shutterstock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Thursday, August 29th. Shutterstock’s payout ratio is currently 46.51%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. StockNews.com upgraded Shutterstock from a “hold” rating to a “buy” rating in a research note on Saturday. Morgan Stanley lifted their target price on Shutterstock from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $65.00 target price on shares of Shutterstock in a report on Tuesday, August 6th.

Shutterstock Company Profile

Shutterstock, Inc provides platform to connect brands and businesses to high quality content in North America, Europe, and internationally. The company offers image services consisting of photographs, vectors, and illustrations, which is used in visual communications, such as websites, digital and print marketing materials, corporate communications, books, publications, and others; footage services, including video clips, filmed by industry experts and cinema grade video effects in HD and 4K formats that are integrated into websites, social media, marketing campaigns, and cinematic productions; and music services comprising music tracks and sound effects, which are used to complement images and footage.